CREDAI Proposes to Build 5,000 Housing Units

BHUBANESWAR: The Confederation of Real Estate Developers’ Association of India (CREDAI), Odisha chapter has proposed to build about 5000 affordable housing units in the city.

CREDAI Odisha chapter has submitted the proposal to the State Government for building affordable houses, spread across 25 acres, in different patches of land. CREDAI, Odisha president Binay Das said most of the affordable housing units will come up in the outskirts of the city. But lack of peripheral infrastructure development is still a problem for the developers.

Speaking to media persons recently, CREDAI vice-president Sanjeev Srivastava said overall image of the real estate market was set for an overhaul with the implementation of the Real Estate (Regulation and Development) Bill 2013, which has now been tabled in the Rajya Sabha. CREDAI will organise a two-day national conclave in New Delhi from December 13 to deliberate on the bill and development of the housing sector. The meet has been based on the theme ‘Housing: The game changer, leading to double digit growth’.

Srivastava said the bill will bring transparency in real estate. “Every developer will have to declare their projects details like environment clearance, land title and other details in Government of India’s website. Any real estate developer who plans to build more than 12 apartments will have to abide by the bill,” Srivastava said.

CREDAI joint secretary DS Tripathy said there was a need for Government policies to help the growth of the real estate industry. About 70 per cent of the land inside the city belongs to the Government. Unless the Government formulates policies to provide land at a subsidised rate, developing affordable housing units will be a difficult task, said Tripathy.

BHUBANESWAR: Odisha government has issued an interim order for the attachment of properties of Kolkata-based ponzi scheme firm Saradha Group and the state-based Seashore Group of companies which allegedly duped investors of crores of rupees.

BHUBANESWAR: After bringing down a five-storied building in Ashoknagar, Bhubaneswar Development Authority (BDA) has geared up to blacklist an empmelled architect who had submit­ted the plan approval for the illegal structure.

BHUBANESWAR: Reforms in the real estate industry, such as bringing in more transparency and setting up of regulatory body, would boost foreign direct investment (FDI) in the sector by at least 20 times, said Confederation of Real Estate Developers' Association of India (Credai).

BHUBANESWAR: Focusing on increasing the potential of the housing sector in the country, the Confederation of Real Estate Developers’ Association of India (Credai) will hold a two-day national conclave with the theme ‘Housing the game changer: Leading to double-digit GDP growth’ in New Delhi from December 13.

BHUBANESWAR: The state government plans to build 5,300affodable houses at the cost of Rs 5.4 lakh each and make those available to the economically weaker sections (EWS) for Rs 2.69 lakh through three housing projects.

CUTTACK: Taking its cue from Bhubaneswar Development Authority (BDA), Cuttack Development Authority (CDA) has started identifying unauthorized constructions and illegal encroachments. Recently, the BDA started demolishing a five-storey building, illegally constructed, in Bhubaneswar.

BHUBANESWAR: With International Day for Persons with Disabilities being observed on December 3, citizens' groups and experts have advocated barrier-free access facilities for disabled persons at public buildings like offices, shopping malls, healthcare institutions, banks, community and religious institutions in the city.

BHUBANESWAR: The Economic Offences Wing (EOW) of the State Crime Branch on Monday proposed to the State Government for liquidation of the Saradha Group’s properties in order to refund duped investors’ money as per the provisions of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.